1. Includes finance company subsidiaries of bank holding companies but not of retailers and banks. 2. Owned receivables are those carried on the balance sheet of the institution. Managed receivables are outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originator. Data are shown before deductions for unearned income and losses. Components may not add to totals because of rounding. 3. The series may contain breaks that result from discontinuities in source data. Growth rates are adjusted to exclude the effect of such breaks. 4. Data are from the subsidiaries of the three major U.S. automobile manufacturers and are volume-weighted averages covering all loans of each type purchased during the month.

OWNED AND MANAGED RECEIVABLES 2

2003

2004

1999

2000

2001

2002

2003

Q2

Q3

Q4

Q1

Q2

Jun

Jul

Aug p

Not Seasonally Adjusted

Outstandings (billions of dollars)

Total

1036.4

1199.8

1255.3

1284.3

1340.4

1292.7

1309.3

1340.4

1358.4

1371.4

1371.4

1360.5

1365.5

Consumer

412.8

475.9

519.7

523.9

547.7

516.2

536.3

547.7

545.1

553.9

553.9

555.4

557.0

Motor vehicle loans

129.2

141.6

173.9

160.2

197.0

166.6

196.7

197.0

202.5

206.3

206.3

209.4

214.7

Motor vehicle leases

102.9

108.2

103.5

83.3

70.0

76.7

75.4

70.0

66.6

65.0

65.0

64.2

63.5

Revolving 5

32.5

37.6

31.5

38.9

37.6

34.6

37.3

37.6

37.6

39.9

39.9

41.4

40.1

Other 6

39.9

41.3

32.7

38.7

60.9

43.1

50.1

60.9

67.2

78.5

78.5

78.6

78.8

Securitized assets 7

Motor vehicle loans

73.1

97.1

131.9

151.9

132.8

146.5

129.6

132.8

122.6

120.4

120.4

118.3

116.5

Motor vehicle leases

9.7

6.6

6.8

5.7

5.5

6.0

5.7

5.5

5.3

5.1

5.1

5.1

5.0

Revolving

6.7

27.5

25.0

31.1

31.6

29.5

28.9

31.6

31.5

28.1

28.1

28.0

28.0

Other

18.8

16.0

14.3

14.0

12.2

13.3

12.7

12.2

11.6

10.7

10.7

10.5

10.4

Real estate

174.0

198.9

207.7

217.4

239.6

223.6

234.0

239.6

243.8

252.1

252.1

253.3

254.8

One- to four-family

108.2

130.6

120.1

135.0

152.2

142.5

151.8

152.2

159.5

167.9

167.9

169.2

170.8

Other

37.6

41.7

41.2

39.5

46.7

40.9

42.8

46.7

46.7

46.0

46.0

46.2

46.3

Securitized real estate assets 7

One- to four-family

28.0

24.7

40.7

39.7

36.9

38.4

37.6

36.9

36.1

35.4

35.4

35.2

35.0

Other

0.2

1.9

5.7

3.2

3.8

1.8

1.8

3.8

1.5

2.8

2.8

2.8

2.8

Business

449.6

525.0

527.9

543.0

553.1

552.9

539.0

553.1

569.5

565.4

565.4

551.7

553.7

Motor vehicles

69.4

75.5

54.0

60.7

74.9

69.9

62.2

74.9

88.8

95.4

95.4

87.7

85.7

Retail loans

21.1

18.3

16.1

15.4

18.2

17.2

18.1

18.2

16.6

18.0

18.0

18.1

17.8

Wholesale loans 8

34.8

39.7

20.3

29.3

40.3

38.4

30.5

40.3

48.1

52.8

52.8

44.8

43.0

Leases

13.6

17.6

17.6

16.0

16.3

14.2

13.6

16.3

24.1

24.6

24.6

24.8

24.8

Equipment

238.7

283.5

289.4

292.1

277.6

283.4

278.2

277.6

275.2

265.0

265.0

261.5

261.8

Loans

64.5

70.2

77.8

83.3

74.6

77.5

73.1

74.6

75.7

68.5

68.5

68.7

69.0

Leases

174.2

213.3

211.6

208.8

203.1

205.9

205.1

203.1

199.5

196.4

196.4

192.8

192.8

Other business receivables 9

87.0

99.4

103.5

102.5

105.0

102.6

105.1

105.0

111.6

110.9

110.9

110.7

112.7

Securitized assets 7

Motor vehicles

31.5

37.8

50.1

50.2

48.4

50.0

47.2

48.4

48.4

45.6

45.6

43.6

45.6

Retail loans

2.9

3.2

5.1

2.4

2.2

2.2

2.2

2.2

2.2

2.2

2.2

2.2

2.2

Wholesale loans

26.4

32.5

42.5

45.9

44.2

45.6

42.8

44.2

44.1

41.3

41.3

39.3

41.4

Leases

2.1

2.2

2.5

1.9

2.1

2.1

2.1

2.1

2.1

2.1

2.1

2.1

2.1

Equipment

14.6

23.1

23.2

20.2

22.1

23.5

22.3

22.1

20.1

22.7

22.7

22.3

22.0

Loans

7.9

15.5

16.4

13.0

12.5

12.9

13.2

12.5

11.6

12.2

12.2

11.8

11.6

Leases

6.7

7.6

6.8

7.2

9.6

10.6

9.1

9.6

8.5

10.5

10.5

10.4

10.4

Other business receivables 9

8.4

5.6

7.7

17.4

25.1

23.6

23.9

25.1

25.4

25.9

25.9

26.0

25.9

5. Excludes revolving credit reported as held by depository institutions that are subsidiaries of finance companies. 6. Includes student loans, personal cash loans, mobile home loans, and loans to purchase other types of consumer goods such as appliances, apparel, boats, and recreation vehicles. 7. Outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originator. 8. Credit arising from transactions between manufacturers and dealers, that is, floor plan financing. 9. Includes loans on commercial accounts receivable, factored commercial accounts, and receivable dealer capital; small loans used primarily for business or farm purposes; and wholesale and lease paper for mobile homes, recreation vehicles, and travel trailers. r=revised. p=preliminary.